Polymarket and Kalshi are the two dominant prediction market platforms, but they differ in important ways. Polymarket is a decentralized, crypto-native exchange operating on Polygon, while Kalshi is a CFTC-regulated US exchange using dollars. Here is how they stack up.
| Feature | Polymarket | Kalshi |
|---|---|---|
| Type | Decentralized (Polygon) | Centralized (CFTC-regulated) |
| Founded | 2020 | 2021 |
| Markets | 1,000+ active | 500+ active |
| Fees | ~2% on winnings | ~2-7% on winnings |
| Min Trade | $1 (USDC) | $1 (USD) |
| Liquidity | Very high (CLOB) | High (CLOB) |
| Copy Trading | Yes (via PredCopy) | No |
| Mobile App | No (web only) | Yes (iOS & Android) |
If you are outside the US and want the deepest liquidity, widest market selection, and access to copy trading via PredCopy, Polymarket is the better choice. If you are a US-based trader who values regulatory protection and fiat on-ramps, Kalshi is a strong alternative.
US users can access Polymarket for information but cannot trade with real money due to regulatory restrictions. Kalshi is the regulated US alternative.
Polymarket generally charges lower fees (~2% on net winnings) compared to Kalshi which can charge up to 7% depending on the market.
No, Kalshi does not currently offer copy trading. PredCopy enables automated copy trading exclusively on Polymarket.
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